NZD/USD Forecast October 24, 2016, Technical Analysis

The NZD/USD pair fell during the course of the day on Friday, showing continued bearish pressure in this market as we continue to go down towards the uptrend line that has been supporting the market. I believe that a break down below the bottom of the range is reason enough to sell, lease for short-term position. I don’t think at this point in time that this market will eventually find supportive candles in order to go long. Ultimately, I believe that the market will continue to find buyers until we break down below the aforementioned uptrend line longer-term, but I do recognize that there is a short-term selling opportunity. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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